UNCTAD Awards Investment Office for Excellence in Promoting Sustainable Energy Investment

The United Nations Conference on Trade and Development (UNCTAD) recognized the Investment Office's efforts in promoting sustainable investment in energy with an award for excellence for the "Enerjisa REZII" project in 2023.

Investment Office Vice President Zeynel Kılınç received the Excellence in Promoting Investment in the Energy Transition Award at the World Investment Forum Gala Dinner and Award Ceremony held in Abu Dhabi on October 16.

Investment Office's winning project is Enerjisa Üretim A.Ş.'s wind power plants within Renewable Energy Resource Area-II (REZ-II). Projected to hit USD 1.2 billion in value, the investment will contribute USD 1 billion to the Turkish economy, and create direct employment for 1,000 people once completed.

Commenting on the award, Kılınç said, “We are honored to receive this prestigious award from UNCTAD in recognition of the Investment Office's efforts to establish a model for sustainable energy investment that can be used across the globe. The REZ model demonstrates how public private partnerships can drive renewable energy innovation, create new economic opportunities, and support the transition to a greener economy, while also meeting Sustainable Development Goals. Under the visionary leadership of President Recep Tayyip Erdoğan, we will continue to support technology-intensive, sustainable, and environmentally friendly investments to make 'Türkiye Century' the 'Century of Investment'."

Designed to boost domestic renewable power generation and equipment manufacturing in Türkiye, the REZ is a renewable energy investment model that encapsulates a 2,850 MW wind power resourcing program, in addition to 3,000 MW of solar capacity and photovoltaic (PV) manufacturing facilities. The German wind turbine manufacturer ENERCON and Turkish renewables investor Enerjisa Üretim A.Ş., a joint venture between E.ON and Sabancı Holding, won the bid for 1,000 MW wind power capacity in the REZ II tender in 2019, with each party being responsible for 500 MW.

The winning renewables project is fully aligned with UNCTAD's Sustainable Development Goals (SDGs) in terms of addressing challenges relating to decarbonization, renewable energy contribution, energy efficiency, and the circular economy, and has been supported by the Investment Office since its inception.

The project is located in regions of Türkiye having the highest wind energy potential, with wind farms being constructed in Çanakkale (250 MW), Balıkesir (250 MW), Aydın (250 MW), and Muğla (250 ​MW).

UNCTAD regularly monitors the mainstreaming of SDGs by Investment Support and Promotion Agencies (IPAs) and conducts periodic surveys. Based on its research and these surveys, UNCTAD has been granting the United Nations Investment Promotion Awards in recognition of the achievements of IPAs since 2002, to encourage them and the private sector to work towards the SDGs.

Hosted by UNCTAD, the World Investment Forum (WIF) brings together more than 6,000 investment stakeholders from 160 countries around the globe every two years. First held in 2008, the forum returned for its eighth session in Abu Dhabi on October 16-20, 2023.

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UNCTAD; awards; energy; renewable; sustainability